Banco de Investimento Global (BIG) has launched Lead Capital a Portuguese buyout fund with a target of €50m. The fund has already had a first close on €20m and is aiming for a final close in December. The fund has so far attracted a broad base of Portuguese financial groups. It is the first time following amendments to Portuguese law that a private equity fund in Portugal has welcomed institutional investors such as pension funds and insurance funds as limited partners, many of which have had no previous exposure to private equity. It is hoped the second phase of fund raising will also attract commitments from international investors.
The fund aims to make between six and eight investments from the fund and aims to take majority stakes in family-run businesses in the region. The team will also co-invest in transactions.
CEO Mário Bolota, said: “Lead Capital seeks to fill a gap in the Portuguese private equity market by offering an alternative source of capital for entrepreneurs seeking growth and professionalism and expanded opportunities via the entry of institutional investors into the share capital of their companies.”